Explosions were reported on Thursday morning at a chemical plant near Houston, Texas,which was hit by floodingin the aftermath of Tropical Storm Harvey.
What you need to know on Wall Street today
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The Arkema plant in Crosby, Texas (roughly 25 miles northeast of Houston) produces organic peroxides used to make plastic. The compoundsare known to be explosive. Amid Harvey's deluge, Arkema lost power, leaving the chemicals un-refrigerated and prone to becoming volatile as they warm. Because the chemicals remain un-refrigerated, authorities warned that further blasts were likely.
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